The Global Institutional Furniture Market size is expected to grow at a CAGR of 6.4% during the forecast period from 2021-2028. The growth can be attributed to the increasing number of schools, libraries, and theaters around the world that are adopting new technologies such as virtual reality or augmented reality which requires more seating arrangements in order for people to interact with them.
Institutional Furniture refers to any type of furnishing used in an educational setting, such as a school or university. This includes desks and chairs, computer tables, bookcases, lockers, and seating arrangements for public spaces like libraries or theaters. It also includes furnishings found inside classrooms including chalkboards and whiteboards.
On the basis of Type, the market is segmented into Metal, Wood, and Others. The metal segment is the largest segment in this market followed by wood.
Metal furniture includes a range of indoor and outdoor design options that are sturdy, attractive, durable, and functional. There are many types of metals used in designing these products including steel, aluminum, and zinc alloys. They offer protection from the elements as well as high resistance to corrosion or rusting—two common problems for the longevity of any object made from wood or plastic. Steel is often chosen because it can be welded into intricate shapes; aluminum’s strength makes it appropriate for large pieces like benches with wide spans between legs; while lighter-weight materials like titanium look good on terraces near water features where they won’t corrode over time.
Wood furniture is a range of indoor and outdoor design options that are sturdy, attractive, durable, and functional. There are many types of woods used in designing these products including oak, maple, or cherry wood. They offer protection from the elements as well as high resistance to corrosion or rusting—two common problems for the longevity of any object made from other materials like metal or plastic. Oak is often chosen because it can be stained with various colors; maple's strength makes it appropriate for large pieces like benches with wide spans between legs; while lighter-weight material such as bamboo looks good on terraces near water features where they won’t corrode over time.
On the basis of Application, the market is segmented into Schools, Libraries, Churches, Theaters, and Others. With an increase in the number of schools being built every year across North America & Europe., Asia Pacific, Latin America this segment is expected to grow steadily over the forecast period. Metal furniture dominates the market because it's easier to maintain compared with wood that requires more care and attention. Schools represent almost 97% of total sales revenues from metal institutional furnishings.
On the basis of Region, the market is segmented into North America, Europe, Asia Pacific, and Latin America. The Asia Pacific and Middle East & Africa are predicted to have good opportunities for growth between 2021-2028; North America will show healthy revenue increment over this period followed by Europe. Latin America might not enjoy such higher revenues because it has fewer schools compared with other regions but its library industry holds potential for future developments.
The global institutional furniture market is driven by the rising trend of investing in luxurious and high-quality products. This has led to significant growth for this sector, as people are now focusing their attention on quality rather than quantity. In addition, the increase in demand from emerging economies such as China and India has been an encouraging factor behind this industry's fast development. The increasing need for new schools due to population growth coupled with government initiatives can also be seen playing a role in fueling these trends.
Up Market Research published a new report titled “Institutional Furniture Market research report which is segmented by Types (Metal, Wood, Others), By Applications (Schools, Libraries, Churches, Theaters, Others), By Players/Companies Herman Miller, HNI, Steelcase, Knoll, Smith System”.
|Report Attributes||Report Details|
|Report Title||Institutional Furniture Market Research Report|
|By Type||Metal, Wood, Others|
|By Application||Schools, Libraries, Churches, Theaters, Others|
|By Companies||Herman Miller, HNI, Steelcase, Knoll, Smith System|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||228|
|Number of Tables & Figures||160|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Metal, Wood, Others and By Application Schools, Libraries, Churches, Theaters, Others.
Some of the companies that are profiled in this report are:
Institutional Furniture Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Institutional Furniture Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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